Johnson & Johnson to buy Crucell
J&J is in advanced plans to acquire the Dutch vaccine producer for $2.3 billion.
By Joseph Woelfel, TheStreet
J&J, which already owns 17.9% of Crucell, would acquire the rest for 1.75 billion euros ($2.3 billion), or 24.75 euros a share, in cash.
Crucell closed Thursday at 15.70 euros, making the intended offer a 58% premium.
Crucell makes vaccines and sells a line of cells widely used as a platform for developing vaccines.
The boards of J&J and Crucell have authorized the companies to proceed with the talks for a potential transaction.
The companies expect that Crucell's strength in the manufacturing, discovery and commercialization of vaccines would create a strong platform for J&J in vaccines, the companies said in a statement Friday.
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[BRIEFING.COM] The headlines generally favored Tuesday being another good day for the stock market. Instead, it was just a mixed day with modest point changes on either side of the unchanged mark for the major indices.
For the most part, the stock market was a sideshow. The main trading events were seen in the commodity and Treasury markets, both of which saw some decent-sized losses within their respective complex.
Dollar strength was at the heart of the weakness in ... More
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